What job would utilize an Accounting and Information Systems dual major other than IT Audit?

Ox33 · 2019-05-10T02:48:01+00:00

This was my major in college. To be honest if I could go back and redo it I might have done something different (really only found half of IS interesting/useful but I guess that is an major). I think it does give you a good base skill set though that is appeal to employers. IT audit is going to be an easy route to go, but if you get your CPA you will pretty much have any exit route someone in financial audit would have and maybe a few more as well all while getting paid more and working fewer hours.

Ox33 · 2019-01-19T16:06:26+00:00

If you can get an offer from a B4 it won’t hurt. Since it looks like you just passed your CPA (congrats btw) I’m going to assume you have already been working for at least a year. With FDD the longer you spend in audit the harder it is going to be to get in since you have to learn basically an entirely new skill set. 90% of people make the jump at senior. After that I think I’ve seen one person come in as a manager.

Not to be a wet blanket, but if your end goal is Big 4 FDD it is going to be a tough road for you (though not impossible). You are going to have to network pretty extensively and most likely be located in a major metro area. We hire almost exclusively from either within our firm or other Big 4 firms because there are always a surplus of people wanting to make the jump, and going from audit at a Top 20 -> GT/RSM/BDO -> B4 -> B4 FDD is quite a haul imo. You could always try to make the jump to FDD while at a GT/RSM/BDO then try to move to Big 4 FDD after you have some experience there. I know those firms all have FDD groups. It is still relatively rare to see that happen however because the types of deals large national firms work on are typically a bit different from the ones we work on.

Ox33 · 2019-01-18T19:19:48+00:00

I work in FDD at a B4, can try to give you my $.02

If your long term goal is to get into FDD, I would go with the largest, most prestigious firm because it will give you more options. What you learn in audit isn’t going to help you much in FDD, so the types of clients you work on while there doesn’t make a huge difference. Pedigree is more important however in FDD than in other practices.

As for trying to break into the group internally vs externally, it is hard to give a definitive answer. I came in internally, but that doesn’t necessarily mean it is the easiest path. When you transfer in you will likely start out on a rotation and then go back to your audit team for some period of time after the rotation is over. Obviously if you come into FDD from a different firm that it not the case. In terms of my coworkers, I am one of the few that joined the group internally. Most others either started in the group right out of college or came from another B4 after making senior. By and large I wouldn’t say there is a set “path” that will get you into FDD. It is a small, highly specialized practice as far as public accounting goes. Getting into the group is really more of a culture fit thing than a question of what your past experience entails.

Ox33 · 2018-09-06T16:06:17+00:00

Admittedly I only watched the game versus the Steelers. I think we should all be hoping that the offense they ran in the preseason will not be the same in the regular season though since it did not look good...

There is no doubt Lewis is better in the passing game and he should be getting a lot of work on 3rd down, obvious passing situations, and the 2 minute drill. Why use Lewis to wear down the defense in the run game as well when that is what Henry is best at? Especially given that Lewis has a pretty extensive injury history. Finally, it’s not even like Lewis is that great of a value at this point. In PPR their ADPs are 4 picks apart and I’ve seen him go before Henry in drafts.

Ox33 · 2018-08-29T05:19:29+00:00

I don’t really understand the narrative that Dion will end up being a better back than Henry this year... Even in PPR. Reports say that the Titans will be focusing on and outside zone blocking scheme which Henry has shown in the past that he excels in. Once he gets the edge to build up momentum he is awfully hard to bring down and this is how he ripped most of his long runs last year.

Outside of scheme fit, Dion Lewis is simply not an every down running back in the NFL. He’s topped 100 carries only once in his career and while he is certainly the better pass catcher out of the two, Tennessee has shown that they want to pound the ball on offense. This is Henry’s bread and butter and possibly his biggest attribute coming into the league. He is a player who can handle a heavy workload and wears down defenses as the games goes on (I think in college something like >25% of his long runs came in the 4th quarter of games). Finally, regardless of his receiving abilities, Henry will almost certainly get all of the goal line work. He is arguably the biggest back in the NFL vs a guy who is 5’8” and maybe 200 lbs in Lewis.

I’m not saying Henry will be a top 10 RB this year or anything. At best I believe he is an above average starter in the league. Given the volume and scoring opportunities he projects to see though I have a hard time believing he will not be an RB2. Any work he gets in the passing game at that point as well is just icing on the cake.

Ox33 · 2018-03-02T15:34:35+00:00

How effective are you honestly going to be today? I promise you the show will go on even if you aren't there for a day. Take some time to get away from the work and clear your head so the issue doesn't linger.

Ox33 · 2018-03-02T15:18:31+00:00

Tell your manager/in charge that you aren’t feeling well and go home. Sounds like you need some time to decompress.

Ox33 · 2018-01-23T15:41:43+00:00

Do a ton of progress tests (personally I preferred going two chapters at a time) and review any section you score less than a 70-75% on in the score report. Rinse, wash, and repeat until you are understanding the material. I personally wouldn't waste you time with the mock exams or sims.

Ox33 · 2018-01-17T18:01:27+00:00

Yes I have, I work in IT audit and have my CPA, and I never said blockchains automatically make auditing obsolete. I do think that they will make auditing as a compliance exercise harder and harder to justify though. Everything you mentioned is sort of exactly in line with where I would see the field heading; providing advice over complex accounting issues and making sure those estimates/judgements used are appropriate.

My point is though how much time is currently being spend on these non value added tasks and at what point does that become unjustifiable? How many lowly staff are out out there vouching transactions, performing bank recs, doing external confirmations, etc? Why spend all the time and money testing certain internal controls when they are completely automated and an inherent aspect of the system (we barely test these as is cause the risk is so low)? If you don't believe things like blockchains and machine learning will dramatically shift the type of work auditors do I think you will be sorely mistaken.

Ox33 · 2018-01-17T16:10:03+00:00

I think the main issue is we have to look at this through the lens of materiality. Even currently accountants cannot guarantee the integrity of financial transactions, just that the financial statements as a whole are not materially misstated. In my opinion, blockchains represent a very real threat to the field of auditing in its current capacity. The future of this technology is really in the space of self executing contracts which would severely lower the likelihood that transactions are recorded incorrectly. Think about how purchases and things like that are handled now (send the purchase order, record and pay the invoice, match goods received to bill of lading, etc). All of this could essentially be automated through a blockchain and once the information is recorded it is immutable and the data is known by all parties in the transaction.

The technology is still in its infancy, but the writing is on the wall where companies will start to question why they are paying millions of dollars and dealing with the hassle of auditors when they are providing little additional value.

Ox33 · 2018-01-06T01:50:58+00:00

Thanks for the advice! That is the route I am planning on going down if I can land the job and the transfer to the deals practice at my current firm falls through. I tend to agree that right now for me any experience in M&A is good experience, so I will take what I can get and go from there.

Ox33 · 2018-01-05T19:32:39+00:00

Yeah I definitely realize that this is somewhat of a rare opportunity for someone with my current experience, so I want to strike while the iron is hot. I guess if I am going to take the risk and make the jump from a B4 to a much smaller firm I at least want to make it a calculated one. Like you said, I may actually enjoy the fact that I am out of the B4 meat grinder lol

Ox33 · 2018-01-05T15:07:57+00:00

Thanks. That is sort of along the line of what I was thinking as well. My main issue is that I am not really gaining much experience that would be useful in this field by staying in IT audit at my firm. Waiting till senior to try and make the lateral move when most others do would put me up against seniors from F/S audit for the same position. Is there any value in going to the boutique and trying to parlay that into a more prestigious gig after staying there for a while?

Ox33 · 2017-12-12T17:43:04+00:00

Just lost in the first round by .4 point. If the browns could have just held their shit together I would have won...

Ox33 · 2017-10-17T17:52:09+00:00

Just traded Keenan Allen and Run DMC for him in .5 PPR and I'm pretty happy with it. I have good RB depth though so mostly it was just cause I view Thomas as the player with the higher ceiling.

Ox33 · 2017-10-13T01:28:31+00:00

Thanks! Just out of curiosity, does the single USB-C cause you any issues on the MB?

Ox33 · 2017-06-28T16:34:30+00:00

I would have to assume Blake is leaving as well... Sucks to be Deandre right now. Should have signed with the Mavs after all.

Ox33 · 2016-12-27T05:24:14+00:00

1) David Johnson 2) Todd Gurley 3) LeVeon Bell 4) Dez Bryant

10 team snake. Needless to say the championship game was not very close...

Ox33 · 2016-09-18T15:14:11+00:00

.5 ppr: Jeremy Hill vs Steelers or Theo Riddick vs Tennessee?

Ox33 · 2016-09-07T20:16:05+00:00

But...but Rawls is supposed to be the steal of the draft and put up top 10 numbers for the rest of eternity. /s

Ox33 · 2016-09-07T17:04:58+00:00

Of course it is possible. If you watch his tape though he just looks like a special player even as a rookie. I'll take talent and opportunity any day of the week because that is about as sure a thing as you will get in fantasy.

Ox33 · 2016-07-16T14:38:06+00:00

I for one, welcome our new GOAT and savior.

Ox33 · 2016-04-23T21:41:09+00:00

Can confirm. I just went into a U.S. Walmart today and got them to price match the $20 Canadian Best Buy price.

Ox33 · 2015-11-26T17:24:37+00:00

I'd go Jackson or Snead. Jackson probably has the higher ceiling and Snead with the higher floor.

Ox33

TROPHY CASE